A major wood processing factory of Vietnam’s TH Group was inaugurated in the industrial park of Nghia Dan district, central Nghe An province, on September 3.
Lao Prime Minister Thongloun Sisoulith said his country wants more Vietnamese investment in consumer goods production and timber processing to diversify the trading portfolio between the two sides.
The largest woodchip processing factory for export in the south central province of Phu Yen was officially put into operation at Dong Bac Song Cau Industrial Park on July 31.
Many enterprises in southern Dong Nai Province have been in need of labourers, mostly manual workers for textiles, wood processing and mechanics to complete their extra contracts in the past 2 months.
The Handicraft and Wood Industry Association of HCM City (HAWA) has projected exports of wooden products to reach 7.2 billion USD this year, up from 6.9 billion USD last year.
The forestry sector has been shifting towards a market economy over the recent five years, Deputy Prime Minister Hoang Trung Hai said at a conference reviewing the five-year plan on forest protection.
Vietnam, a world wood processing centre, is facing a high market risk
as the country’s wood sector remains dependent on imported materials
while its export markets are becoming stricter in wood origin and
legality, said an expert in the sector.